Iran says Hormuz can reopen only if transit revenue compensates war‑related damages, linking access to financial concessions.
Parliamentary Speaker Mohammad Bagher Qalibaf dismissed Trump’s ultimatum as reckless, urging respect for Iranian rights.
Former foreign minister Ali Akbar Velayati warned Iran could target the Bab el‑Mandeb Strait, which handles about 12% of global trade.
These threats raise risk of broader disruption to global energy trade, already pushing oil and gas prices higher.